Servicing

Most mortgages are being denied because of collateral-related issues and debt-to-income requirements.

Nationally, there were 58,000 completed foreclosures during October, down from 77,000 the prior month and 70,000 a year ago.

The members of the Mortgage Insurance Cos. of America had their best month of the year in October, with volume approaching $11.5 billion.

A Florida judge has rejected one of CitiMortgage’s motions to dismiss legal complaints by a borrower related to force-placed insurance coverage.

Kevin Coop has joined ServiceLink as executive vice president of enterprise strategy.

US Residential Asset Fund has been implemented to focus on purchasing distressed properties for the single-family rental market.

Prospect Mortgage has been hiring some heavy hitters of late, causing tongues to wag.

The REO market has seen its share of scams throughout the recent years, including a current one affecting renters looking for a great deal on the internet.

In the months ahead the future of the mortgage industry will be decided by federal agencies under the purview of President Obama.

A handful of bulk residential servicing packages are in the market, and there is continued strong interest in the product from REITs and hedge funds.